Full text of U.S. Financial Data : Week Ending July 19, 1967

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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Week ending July 19r 1967

LIBRARY
MEMBER BANK RESERVES (Pages 2, 3 and 12)

MONEY STOCK (Continued)

Total reserves of member banks averaged $23.8
billion in the four weeks ending July 19, up at a 3
per cent annual rate since April. A major factor
in the recent expansion of bank reserves was increased
holdings of Government securities by the Federal
Reserve System.

since early April and at a 7 per cent rate since
January. By way of contrast, the money stock
rose at a 4 per cent rate from 1964 to 1966 and at
a 3 per cent rate from 1961 to 1964.

Reserves available for private demand deposits
raged $16.2 billion over the four weeks ending July
19.
These reserves, which provide the base for monetary
expansion, increased at a 9 per cent rate since April
and at an 8 per cent rate since January. From 1964 to
1966, reserves available for private demand deposit rose
at a 3 Per cent rate.

VELOCITY OF MONEY (Page 4)

MONEY STOCK

(Pages 5 and 12)

Private demand deposits averaged $137*2 billion
during the four weeks ending July 12, up at a 9 per cent
annual rate since early April and at a 7 per cent rate
since January. These deposits, which comprise about 80 per
cent of the money stock, grew at a 4 per cent rate from
1964 to 1966, after rising at a 2.5 per cent rate from
061 to 1964.
The total money stock, which includes currency
held by the public as well as private demand deposits,
averaged $176.6 billion in the four week period ending
July 12.
Money has increased at an 8 per cent rate


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

The income velocity of money (gross national
product at current prices divided by the money stock)
was 4.45 during the second quarter of 1967, down
slightly from 4.48 in the first quarter and 4.49 in
the fourth quarter last year. Since 1948, this in­
dicator of money turnover has risen at an annual rate
of about 3.6 per cent. The most recent decline in
velocity occurred despite a first to second quarter
rise of $9 billion in total spending, and reflects
the rapid rate at which the money stock has been
growing in recent months.
Historically, in most periods of monetary
acceleration growth in spending has changed little
initially, while velocity has slowed. However after
a brief lag, both spending and velocity have accelerated.
During the last half of 1964, for example, money in­
creased at a 5 per cent rate, after growing at a 3 per
cent rate from i960 to 1964. Total spending at first
continued to rise at about the 7 per cent rate of the
previous three years and velocity slowed. In 1965,
however, spending increased at a 9.5 per cent rate,
facilitated by an acceleration in money turnover.

Prepared by Federal Reserve Bank of St. Louis
Released: July 21,1967

FEDERAL RESERVE CREDIT^
Weekly Averages of Daily Figures
Seasonally Adjusted by this Bank

BillInns of Dollars

12

Billions of Dollars

Annual rates of change of Federal Reserve Credit
adjusted for reserve requirement changes
average of four weeks ending July*19, 1967
from four weeks ending:
Apr. 19, 1967
t 7.7
Jan. 18, 1967
+/J.I
Oct. 19, 1966
-f/J o
July 20,

C.i.1
Federal Reserve Credit Adjusted
for Reserve Requirement Chang

Federal Reserv

Ft

Federal Reserve
and Federal Agency

Latest data preliminary
Latest data plotted week ending: July 19, 1967

5

'

12

' J_ I_ I_ LJ_ I—L, i. .1
__ _
_

26 2
Oct.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

I,

I,

16
30 7 14
28 4
Nov.
Dec.
1966

1_ 1 t
_

1

18 25 1
Jan.

1

* Data beginning March 2, adjusted
for the effect of the changes in
reserve requirements.
1/ Federal Reserve Credit excluding float and a few minor
items.
2/ Seasonal adjustment for Federal Reserve Holdings
computed by this bank using data ending December 1965;
Borrowings from Federal Reserve not seasonally adjusted.
Unadjusted data appear in Board's H.4.1 release.

I 1 I
15 22 1
15
29 5 12 26
Feh.
Mar.
Apr.
1

17
May

1967

31 7 14
June

28 5 12 26
July

16
Aug.

4*2

30 6 13
Sept.

Prepared by Federal Reserve Bank of St. Louis

RESERVES
All Member Banks in the Nation
Weekly Averages of Daily Fig ures

Billions of Dollars

24.5

—|------1------- 1--1------1

I

I

I-------1------:—H------!----- 1

I

I

" i

I

I

I

3
Billions of Dollars

24.5

1/ Data prior to March l6, 19^7 adjusted for
estimated effect of reserve requirement changes,
and do not correspond with monthly series which
adjusts data to reserve requirements in effect
from September 1966 to March 1967•

Seasonal adjustment computed By this
bank using data ending December 19^5•
Unadjusted data appear in the Board's H.4.1.
release.
__ I___1_I__ I_ I_ 1—I—1—I—1—1—I—l
_ _

TOTAL RESERVES
Annual rates of change, average of
four weeks ending July 19, 19&7
from four weeks ending:
Apr. 19, 1967
*«!.<•
Jan. 18, 1967
f?
_ Oct. 19, 1966
+*■!
"July 20, 1966
i3-^

2. 3.J2.

Total l/

/S&S
22.0

1

'i

1

1

1

RESERVES AVAILABLE FOR
PRIVATE DEMAND DEPOSITS
Annual rates of change, average of
four weeks ending July 19, 19^7
from four weeks ending
Apr. 19, 1967
Jan. 18, 1967
Oct. 19, 1966
/ 3 2.
July 20, 1966
I—I

1—1—1—l

Reserves Available for
Private Demand Deposits


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Latest data preliminary
Latest data plotted week ending: July 19, 1967
■

1

15 221
Feb.

*

29

»

■

*

5 12

‘

26

1

iii

3

1 -

31

Apr.

19&7

1

1

7 14

i

1

1

I

28 5 12

I

1

1

26 2

30 6 13
Sept.

Prepared by Federal Reserve Bank of St. Iouis

Annual Rates
of Turnover
5.6 r-.,

_ Latest data plotted:


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

INCOME VELOCITY OF MONEY
GNP/Money Supply

second quarter 1967 preliminary.

Prepared

4
Annual Rates
of Turnover

the Federal Reserve Bank of St. Louis-----

5

MONEY STOCK *
l8l
180

179
178

ins of Dollars
-1—1—1—t r ■ 1—1—1—1—1—1—1—1—1—r
Annual rates of change, average of
from
Apr.
Jan.
Oct.
July

313 ar

Seasonally Adjusted

181

four weeks ending:
12, 1967
7-7?
11, 1967
+ 6-*
12, 1966
y-y.4
13, 1966
/ 33

June i960 - June 1966

180

179
v3

178

-t3>V

177

177
7

176

176

175
17U

174

173

173
172

13-week centered
moving average

172
171

171

170

170
169

169

Weekly
168

•

167

167
166
165
cT

-Latest data preliminary
^Latest data plotted week ending:

'I I

July 12, 19^7

! I ! I M I I I I I II I I I I II I

5 12 26 2
Oct.

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

16
Nov.
1966

30 7 14 28
Dec.

ii

18 25 1
Jan.

15 22 1
Feb.

* Current data appear in the Board's H.6 release. Back
data appear in the September 1966 Federal Reserve Bulletin. For trend of money stock by months see this bank's
monthly release entitled "Monetary Trends".
~=
1529512
263
Mar.
Apr.

17 31
May

7 14 28 5 12 26
June
July

166

165
0

2

16
30 6 : 5
Aug.
Se]

1967
Prepared by Federal Reserve Bank of St. Louis

C E RT IF ICATES OF D E POSIT U
Large Commercial Banks
Wednesday Figures

Billions of Dollars

21.0

6
Billions of Dollars

Annual rates of change, seasonally unadjusted

21.0
from four weeks ending:

June 1964 - June 1966

Current and year ago data appear in the
Board's H.4.2. release.
1/ Negotiable time certificates of deposit

Latest data preliminary
Latest data plotted:
5 12

26

2


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

16

30 7

Ik

28 4 11

25 1 8

22

1

19 26 3
June

Prepared by Federal Reserve Bank of St. Louis

Bill!

186

of Dollars
Annual, rates of change, average of
four weeks ending July 12, 1967
from four weeks ending:
Apr. 12, 1967
/-/¥. 7
Jan. 11,
1967
t lie,^
Oct. 12,
1966
-h 13-1
July 13.
1966
V- //■?

184
182

180

TIME DEPOSITS*
All Commercial Banks_
Weekly Averages of Daily Figures
Seasonally Adjusted

7
Billions of

186
____ 1567
Clsus S
' «- yi,7.o

— 184
___ _

182

*<. /47.7----7)iau j /iro —
C/0

___

n

178

_ Af
_
3/ /70.JL,----jLu.1 170.1----f v? ni b___

176

& nil

174
9

Liao:

4/ I7J.1-----%JU S 17A1----1730 fi___

180

178
176

174
172

170

170

168

168

166

166

164

164

162

162

160

160

*

158

156

156

154

152_
0

Latest data preliminary
Latest data plotted week ending: July 12, 1967

~


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

30 7

14

28

4

18 25 l

15 22 l

* Current data appear in the Board's H.6 release. Back
154
data appear in the September 1966 Federal Reserve Bulletin.
For trend of time deposits by months see this bank'3
—
monthly release entitled "Monetary Trends".
_ 152

X)

29512263

•

Prepared by Federal Reserve Bank of St

BORROWINGS AND EXCESS RESERVES
All Member Banks in the Nation
1100
1000

--

1000

900

•

BIWEEKLY SETTLEMENT PERIODS

700

6oo
500
1+00

Excess Reserves

300
200

Net Free Reserves

^0
Borrowings
0

-100
-200
-300
-1+00
-500

Latest data preliminary

-600


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

15

1

June

1967
Prepared by Federal Reserve Bank

BUSINESS LOANS
Large Commercial Banks
Wednesday Figures

Billions of Dollars
—Annual rates of change, average of
_four weeks ending July 12, 1967
_ from four weeks ending:
Apr. 12, 1967
f/3,3
Jan. 11, 1967
4- /4L.S
“Oct. 12, 1966
/. 9.4
-July 13, 1966
+ 7. a.
■

Latest data preliminary
Latest data plotted:
July


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

9
Billions of Dollars

Seasonally Ad justed bythisBank

Current and year ago unadjusted data appear in
the Board's H.^.2. release. Seasonal adjustment
computed by this bank using 1958 through July
I96U data.

12, 1967
15 22 1

15

29 5 l:
June

Sept.

Prepared by Federal Reserve Bank of St. Louis

YIELDS ON SELECTED SECURITIES
Weekly Averages of Daily Rates Ended Friday

Per Cent

Per Cent

Corporate
Aaa Bonds

Long-Term
Government Bonds

Discount Rate

Three-Month Treasury
Bill Market Yield

J__ i__ L


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

I

18 5 2

30 6 13

|

273

17

24 3

18251
June

1966

1967

Prepared by Federal Reserve Bank of St. Louis

11

SELECTED SHORT-TERM INTEREST RATES
Weekly Averages of Daily Rates Ended Friday

Per Cent

Per Cent

Prime Commercial Paper
k-to-6 Month

Discount Rate

Prime Bankers
Acceptances

o

u>

"Federal Funds Rate

7 lb

28 k


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

18 25 2
1966

16

30

6 13

27

3

17 24 3

31 7 l^

28 5 12

26 2

16

L..,....
.1
30 7 14

28 k

18 25 l

1967

Prepared by Federal Reserve Bank of St. Louis

1

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
RESERVES
AVAILABLE
FOR PRIVATE
WEEK
ENDING DEMAND DEPOSITS

nt.7

£_
/S

_________

/SS4
JS. 7 7
/S.47

22

/L OL

17
/loo S
---- --------72

/S.74

/?

/s.7f

20
/r\aM 3
- <r
/o

/S.37
/S'. 70
/S 6.7

n

/t> OO

/L.OJ

/S.7/

-?v

/S.33

3/

/O./f

1 /
TOTAL ±J
RESERVES

u.fj
13. /I
23. S3
13. OS
23.11/
2.3.¥¥23.00
23. 0/
23. 77
23. L ir
2 3. S3
23.*/
23. VO

AVERAGES OF DAILY FIGURES
WEEK ENDING WEDNESDAY
MILLIONS OF DOLLARS
EXCESS
RESERVES BORROWINGS

/.r?

/L 7

3S9
372.
soo
3AS

202
/73
301.
/ 3S
/AO
/*S
/ 7A

W7

22 L
*/7A

9<P

voS
32<7
V-OH
3A1

3?!____
33/

/jy
03

/23
So
___ 701.

A
+ JS7
-

7-20 <7
/ISO
72 07
/ A7
t3oo
+/+?
A27/
7200
728!
/All

/7S.S

^ 324

ns.?_
_

7u/7o

t/C.A.

/O. )0

/to. 03

13,5*

24

/o. 13
/L.30

2.3. W

yj
9/
/y/

=? 3.P2

3^3

jL L S
—<7/
/I
/9

/o 01

3b 7
3, C/

/s.lf P

p . PRELIMINARY

/7S.7
!7i.J
17 7.3 f

c</

K. 55
23. t*P

2*/t> f

7 72.0
7 73. /
/ 72.. 7
/ 73. 7
/ 7 IS
773.0
/?/■&>
no.r
/72l.2~
7 72.6
17V, 7
/7Y 7
nso

+ asy

/</

7,

/71.0

71

23.1,1
23.34

3,!

a

FREE
RESERVES

MONEY STOCK
'
AVERAGES OF DAILY FIGURES
WEEK ENDING WEDNESDAY
SEASONALLY ADJUSTED
BILLIONS OF DOLLARS

S!

i-zjr'f

PREPARED BY FEE

^ Data prior to March l6, 1967 adjusted for estimated effect of reserve requirement changes.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1

Kl

MEMBER BANK
AVERAGES OF DAILY FIGURES
WEEK ENDING WEDNESDAY

BUSINESS LOANS

LARGE CERTIFICATES OF DEPOSIT

LARGE COMMERCIAL BANKS

LARGE COMMERCIAL BANKS

WEDNESDAY FIGURES
MILLIONS OF DOLLARS
DATE

UNADJUSTED

SEASONALLY
ADJUSTED

7967 (L*4 7*0,211
5% 926
____ Ljl
6o,4Z9
6 0. 9 12
______ 7L 60,695 _J>Afl5b
60. 932
______ 25 60 32?
60,252 67 osrz
_ _
/ 1a 6. zn
6/ 006
15 6,0.404' (of 326
61. 076
60 73O 6/405
t LO, ?t>5 61,542
_______ 15 6/ 764 6/ 719
AA 6Zj26 6 / SI!
29 61, 962 6! 470
QfiA. 5 6/ 297
6/65-0
1Z 6/ '795 6/6 Id
______ Zl 62,441 62,379
26 62.345 62,545
62 106
51 62.64^
fa 1.IS5 6 2 Am
62.199
n <0 2561
24

14

(a 0.042
6IJ36
61,4 n?
61373

JL!

C,3ACO

28

L3.m

31

(Juaoju 7
r

P - PRELIMINARY

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PATE

7*2.445
laO 4/6
(,3118

SEASONALLY
UNADJUSTED ADJUSTED

Ct'JtuJ 1*4 052

(J <T
/OL

<o3 8 31 7

(o33Z4
<,3 831 /

DATE

UNADJUSTED

HL7 Qa.*.4 74. ?2n
/6 4 2 (a
IS 77.034
25 77. 256
2kzh 1 // /22
_L 72.501
75 72.49/
22 72.55/
Trjayt / 777 5/7
_h 7l_ 994
15

DATE

(l.L 5

UNADJUSTED

If 953
19 441P

// 90!

zz 79,7/9
__ 29 79 299
(If*.. 5 79 2/6
72 7 9/46
79 12.6/9
26 19 523
7ZW 3 72 6 02
t
___ ItL 72 /a 7)4
n 72, 735
______ 25 7SX 925

62,29}
62.335
61.601

WEDNESDAY FIGURES
MILLIONS OF DOLLARS

i ___ _

(Ju,7\f j
"

31 79 7)77
7 79 229
/4
79,296
2/ 72 954
2LE 11153

PREPARE D BY FEDE RAL RESERVE BANK 0 F ST. LOUIS

13

14

SELECTED YIELDS
YIELDS ON U. S. GOVT. SECUR»T!ES
LONG-TERM

i ■; YFiD
3-5 YEAR

3-MONTH
XREAS. BILL

PER CENT PER ANNUM
AVERAGES OF DAILY FIGURES
WEEK ENDING FRIDAY

WEEK
ENDING

PRIME
COMMERCIAL
LARGE
„
PRIME
PAPER
CORPORATE
rArtK
BANKERS
90 DAY.
Aao
4-6-MONTH ACCEPTANCES CD’S**
PER CENT PER ANNUM
AVERAGES OF DAILY FIGURES
FRIDAY
WEEK ENDING FRIDAY
FIGURES

FEDERAL FUNDS
PER CENT PER ANNUM
AVERAGES OF DAILY FIGURES
WEEK ENDING FRIDAY

2

4.37

4.L4

4. 44

S. 02.

S. 46

978

S. 23

4.23

/O

4.91

447

4S4

3.00

S'. 2 X

4 73

3.2S

f.26

n

WJ

4 77.

4.0/

s.o/

S. 38

494

S.2S

3/7

jy

4. SS

4.26

43./

SOS

3.38

3.60

323

306,

4SJ

4. 70

4.47

S.//

S38

413

S./S

430

/6

447

44./

4.37

3/2,

S.JS

488

S./O

4.76

/?

4.42,

4. SO

428

S./3

S.2S

9 70

4.9s

_ _ _ _ 4SS

29

442.

4.4S

4/4

S./3

S/A

4 S3

4 PO

4 73

4.4?

4.42.

4/3

3/2,

S./o

4-4S

4.86

_ _ _ _V./3

n+A) 7

4.44

43/.

J,

/¥

4. 4S

X/

/?47

■

__

s. //

SCO

438

4.2S

_ _ _ _ 4 43

4.31

IS
3.84

S./2,

4.80

428

43o

___ ISO____

4.S4

4.48

3.82-

S.//

4.7<r

423

4.30

310

4.6,2,

4.38

3 72,

S./I

47S

42S

4.3S

4. 0 6___

44.7

4.62,

3. 72,

S/L

4 7S

4.23

4.so

_ _ _ _ 4.03_ _ _

/X

4. 7<

4. L7

3. OS

S3?

4.70

4 IS

4 43

3-73

/?

4 71

43.1

3 . 3?

/1L

4 63

y.is

4. it

4.03

2L

V. S3

47ft

3.SO

33/

4.03

4.2S

4. so

3.10

4. 74

4.LL

3 43

S.36

4.03

i 2.S_ _ _

4. 40

3-17

t_

4.7L

4 74

3.4/

S.31

4-03

4.30

4.(p3

3?o

/It

4SL

V 7L

3.S7

S.31

4.03

438___

4. (el

4-00

23

4.13

sox

3.47

s.ys

403

440

4. SO

___ ism___

30

4. If

S./9

3.14

s.sc,

y.73

yco

4.20

3.13

7

4.81

S.2.2,

4.20

S.31

4. 7S

__ 4 LI

4.10

3.1/

/4

4 8a

S./4

4/7

s.SI

47S

4.30

S.00

____ 1.10

^ 2/

4.83.

S 14

4.18

S.SS

4.7S

4. SO

-------- -y

'

__ J£_

------

0.,/..

•
-------------

AVERAGES OF RATES AVAILABLE

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

____ 3,17___